Posted: Wed Feb 27, 2013 3:50 am Post subject: Italy To Be Next Greece, Taking Eurozone Down With It

Italian majority tells Germans to fuck off (until it's time to come bail them out too).

Quote:

Italy halts austerity plan leaving EU in turmoil

Three years of German-led austerity and budget cuts aimed at saving the euro and retooling the European economy was left facing one of its biggest challenges as Italian voters' rejection of spending cuts and tax rises opened up a stark new fissure in European politics.

The governing stalemate in Rome and the vote in the general election – by a factor of three to two – against the austerity policies pursued by Italy's humiliated caretaker prime minister, Mario Monti, meant that the spending cuts and tax rises dictated by the eurozone would grind to a halt, risking a re-eruption of the euro crisis after six months of relative stability.

Fears that the deadlock will lengthen Italy's near two-year recession and spill over into the rest of the eurozone hit markets across Europe. The Italian banking sector fell 7% in value, dragging the main MIB stock market index 4% lower.

The market turmoil in Milan spread to Germany, France and the UK, with domestic banks among the biggest fallers. Deutsche Bank saw almost 5% knocked off its value, while Barclays suffered a 4% decline. The FTSE 100 fell 1.4%. The German Dax slumped more than 2% and the Paris Cac was down 2.75%.

The French are watching this and saying, "See?! We don't need no stinking spending cuts!" Meanwhile Obama has his entire cabinet out peddling the same idea (and that any such discipline will mean the end of the world).

But ok - if they want to live from others people money, they can leave the EURO and EU any time. Less beggars, less money wasted on subs for their farmers. I am all in favour..._________________Study finds stunning lack of racial, gender, and economic diversity among middle-class white males

Well actually things might not be so bad for Italy, since actually the left got a lot seat, unfortunately a good share of them went to the extreme left. Assuming that an agreement can be reached between them, and since their programs are quite similar it could happen, the austerity will continue, everybody wants to lower the debt, but savings will come from other directions, for example buy less F35, less U212 submarines, spend less for military missions abroad ..... they obtained already that Sicily revoke the permission to build the MUOS that is what worries most people abroad I think

Actually it looks like an agreement could be reached provided the govmt commits itself to cut the money to politicians, political parties, and newspapers and introduce Basic income guarantee like in many EU countries.

It could be really an opportunity to change things for better, hopefully the extreme left wont wast (again) an opportunity._________________True ignorance is not the absence of knowledge, but the refusal to acquire it.
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I do hope so, we need some good news on the economic front, it's been my experience in life,
that there isn't any easy way - or if there is it's normally a damn sight harder than the hard way._________________Like the Roman, I seem to see "the River Tiber foaming with much blood"

I do hope so, we need some good news on the economic front, it's been my experience in life,
that there isn't any easy way - or if there is it's normally a damn sight harder than the hard way.

Good news for Italy are not necessarily good news everywhere

A greek scenario with a second round of voting following shortly is still an option, it fixed the extremists problem there. That would be bad since some of the things they propose aren't so bad, I still have some doubts m5s will be able to do anything, many of them cynically say let's vote again we will get even more votes, who cares about the people in need ...

A few week ago there was a spate of strange armed robberies around here, a lone man robbed bars and shops, making <1000€ each time and told the victims every time that he was sorry. When the police finally got him they discovered he was the owner of a small building company full of debts with 3 small children at home and absolutely no criminal record. Yeah here being unemployed is harder than in other parts of the EU, probably having some sort of welfare for people really unemployed and in need could be good for Italian society as a whole. Too bad we depend on Grillo to hope for something like that to happen._________________True ignorance is not the absence of knowledge, but the refusal to acquire it.
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Okay, then Germany should ensure they come out of the ongoing and future bailouts owning the first-born children (metaphorically speaking) of PIIGS and friends.

Hehe, BK you're a bad counselor
No seriously.

I mean, we are already taking their first-borns. Literally.
Youth-unemployment in Spain is what, 50%? There's job to be had in Germany. Connect the dots.

I read that all the most attractive Spanish women are studying German, then moving to Germany to marry German men. I suppose that's one type of taking of the first-born.

That is what the ugliest Spanish woman do, the most attractive of them can make enough money at home since prostitution is legal in Spain _________________True ignorance is not the absence of knowledge, but the refusal to acquire it.
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There is no faster way to make money than to marry someone who has it. It's the highest form of prostitution.

Divorce changed a lot things ... it is not so easy as it was to marry someone for the money and actually get the money....
that is exactly the kind of families that were destroyed by divorce laws_________________True ignorance is not the absence of knowledge, but the refusal to acquire it.
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There is no faster way to make money than to marry someone who has it. It's the highest form of prostitution.

Divorce changed a lot things ... it is not so easy as it was to marry someone for the money and actually get the money....
that is exactly the kind of families that were destroyed by divorce laws

A woman can't get all the money, but they can do far better than a whore. Al a woman needs to do is keep a man happy for a few years and she's got him by the financial balls. The general rule is half the assets (or whatever has been agreed in a prenuptial document), plus support "in the style to which she has become accustomed" forever or until she re-marries.

Posted: Thu Feb 28, 2013 2:16 am Post subject: Re: Italy To Be Next Greece, Taking Eurozone Down With It

BoneKracker wrote:

The French are watching this and saying, "See?! We don't need no stinking spending cuts!" Meanwhile Obama has his entire cabinet out peddling the same idea (and that any such discipline will mean the end of the world)